07 - RECEIVE NOVEMBER MONTHLY FINANCIAL REPORT

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City of Paris November 2014 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 9.54% less this year than this time last year. Current taxes are 7.75% collected vs. 8.46% last year. 2. Sales taxes are up 7.92% over last year. 3. Hotel occupancy taxes are up 10.19% from last year. All hotels are current on their taxes. 4. Franchise fees are up 9.09 %. 5. Permit fees are up 123.38% compared to last year. This is only $12,730. 6. Municipal Court fines are 4.80% above last year's collections. 7. The Leases & Interest comparison is distorted by the purchase last year of a security with accumulated interest. This distortion will go away when the city's first interest payment on that security shows up on a future report. 8. The Streets & Highways increase was a bookkeeping entry to add some old street assessments to the general ledger. 9. EMS fees are up $88,600.70 or 28.09 %. 10. The mixed beverage tax was not received in October or November. 11, General Fund miscellaneous fees /revenues are unpredictable in nature and amount but do occur each year. Variances from one year to the next are not unusual. 12. Recreation revenues are down 24.9% or $2,487.25. 13. Total General Fund revenues are 7.82% above last year. This increase is primarily due to increases in sales tax and EMS fees. 14. Total General Fund expenditures are up 3.92% compared to last year. Increased expenditures were primarily caused by having 3 pay periods in October and the payment for capital items in the new budget. General Fund expenditures to date equal 19.49% of budget with the City being 16.66% through the budget year. 15. Sewer revenue is up 2.59% compared to last year. 16. Water revenue is down 7.39% compared to last year - $68,275 due in large part to the mild weather in September and October. 17. Total Water & Sewer revenues are 1.87% below last year and equals 17.19% of budget which is above the 16.66% budget to date percentage. 18. Total Water & Sewer expenses are 5.23% below last year at this point in time and represent 11.49% of the total budget while the City is 16.66% through the budget year. Departmental Expenditure Summary: At this point the City is two months or 16.66% through the budget year. It is important to remember that expenditures do not occur equally throughout the year. For example, capital expenditures and association memberships are one time expenditures that if made early in the fiscal year can produce a distorted expenditure percentage. Within the General and Water & Sewer Funds there are eighteen departments whose expenditures are over 16.66% at this time.